Clariant beats Q3 expectations, posts close to $20 million profit

Clariant posted an unexpected profit for the third quarter as it undertook restructuring and cost-cutting programs. The specialty chemicals maker recorded $19.42 million in profit, contrary to industry expectations that the company might lose more than $25 million. The results "showed that the shares offer investors an attractive recovery story backed by the determination of the new management to turn around the company once and for all," an analyst said.